Utica and Schenectady Railroad Co. - circa 1800's Unissued Railway Stock Certificate
Inv# RS2877 Stock
Unissued Stock. Printed by Gravit & Co., Albany. The Utica and Schenectady Railroad was chartered on April 29, 1833, and began revenue service on August 2, 1836, extending the Albany and Schenectady Railroad's line westward from Schenectady to Utica, parallel to the Erie Canal. Initially, the railroad was prohibited from carrying freight, as this would compete with canal traffic. However, on May 7, 1844, the company was permitted to carry freight with some restrictions. By May 12, 1847, the full ban on freight transportation was lifted, though the company was required to pay the state the equivalent of canal tolls. This allowed the railroad to expand its operations significantly.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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